Although Coal India Ltd (CIL) reported a drop in profit after tax (PAT) in the April to June quarter (Q1) of 2023-24 (FY24), the results were considered encouraging by most analysts and by the Street. CIL had consolidated net revenue of Rs 36,000 crore (up 2.5 per cent year-on-year (Y-o-Y) and down 5.7 per cent quarter-on-quarter (Q-o-Q), which was ahead of expectations. Adjusted Earnings before interest, taxes, depreciation, and amortisation (Ebitda) came in at Rs 11,200 crore (down 12.5 per cent Y-o-Y), ahead of consensus estimates, due to reduction in contractual expenses and lower consumption of stores. Adjusted profit after